2013-03-13
2013-03-21
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CNNW 13
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interesting things to tell republican senators this afternoon. he says he's for corporate tax reform and willing to push fellow democrats on entitlements. is the charm offensive starting to pay off? "the kudlow report" begins right now. first up tonight, a nice 83-point move higher for the dow, makes it ten straight days of gains. we have details of another day of record highs, good evening, ka kayla. >> reporter: jobless claims fell unexpectedly and gave traders more confidence in growth. the dow sitting above 14,500. up 83 points to 14,539. this month the dow has been up nearly every single day. the s & p within four points. all time record closing here. 1,563. on rising rates on treasuries. the highest yield in a year. low by historical standard. 3.248%. and the year on 390-year, up 10% this month alone. lots moving on the mobile front, larry. google will shut down its e-reader and samsung unveiled galaxy 4. blackberry moved on moves of the z-10. closed down just 4%. jcpenney under the microscope. the credit default swaps, those widened dramatically. fears of liquidity crunch hurt

under control. potentially. but listen to this. the democratic budget calls for $1 trillion in tax increases over the next 10 years. how are you going to grow an economy with that? and every working american is going to pay some of those taxes. let me ask you, let me ask you this. are you already not paying taxes through the roof? i am. property tax, sales tax, gas tax, state tax, city of new york tax, federal income tax, and almost everything i do in my leash time, rental cars, hotels, planes, all taxed as well. and the democrats want to add another trillion dollars in taxes? so we're quickly becoming sweden which has the highest tax rate in europe. u.s. corporate tax is already the highest in the world, already. and there is no doubt president obama wants to raise them even further. so, again, is this a sound economic policy? is this going to grow the economy in the u.s.a.? is it? finally, the president and the democratic party have failed to tell the american people exactly what programs they will cut in the future, if anymore. once again, there is no specific entitlement reform

in almost four years. and tax hikes are at the center of their plans once again. senate budget committee chair patty murray proposing a budget that calls for a trillion dollars in new taxes. according to the congressional budget office, it still won't balance the budget, even decades down the road. democrats argue that this budget cuts almost 2 trillion from deficits over ten years. and they asked rich to pay their fair share. wih the white house insisting to the press that the american people have given them a mandate to take this approach. >> we need to ask the wealthy to contribute to deficit reduction, and that is a position that the public widely supports. i will wait for the budget to be putorward in senator murray to do that. we expected to be balanced, to have the principal balance inherent in its proposals. it is not -- in that don't expect it will be -- an agreement on every item of the president's proposal, but it will be consistent with the president's balanced approach. lou: the latest poll however contradicts jay carney claims of wide public support. the president's job app

don't know what the loop holes there. there's a notion that the oil companies don't pay any taxes. of course they pay bills -- billions and bills of tax. >> a number of republicans were grateful. well, at least they're not raising tax breaks. have they been so cowed and beaten down that they're grateful it's the only revenue enhancement are just closing loopholes, special breaks, allowances, deductions. >> still more money that guess out of the economy and doesn't have an impact. more importantly, though, it's still sold the same way. still taxing the rich corporations and rich americans who have unfair advantages. so it leaves the door open to another sort of tax the next go-around. i didn't think -- >> neil: i thought that was off the table. >> after you get $41 in tax hikes with one dollar in tax cuts. >> there is the argument that you have the ryan plan, the murray plan, maybe have two sides that could broach some differences but i see some chasm >> but it's a more hopeful tone on both parties. the democrats say now that, yes, we must have tax hikes, or tax something -- tax re

taxes and pay cuts, instead what they did was they taxed bank deposits. they're calling it a tax. a lot of folks are calling it a seizure. here's what's significant. even small depositors below the insurance threshold are going to get hit. the original number for small depositors below 100,000 euros was 6.5%. they're working in parliament right now about shifting that and any other subsequent plan suggests that if you have insured money it will still get hit. what did we see over the week whend this announcement happened on yesterday? runs on the atms at the banks in cypress because they'd shut down the banks as a result of this. they stopped all wire transfers and you also if you tried to take money out they had partitioned out the amount of money that you were supposed to be giveing to the government each though there hasn't been a vote in parliament. why did cypress need a bailout? its banks are bust. the reason the banks in sicypru they bet the greek debt would not be restructured but it was. that's left a lot of them insolvent. the banks in cyprus are huge, eight times the size of

significantly. has he lost leverage with republicans? what does that mean for whether your taxes are going up? >>> and stephen colbert talks about his stistister running fo office and is talking about being white racist of itself. a war of words over race in america tonight. it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. >> announcer: did you know there are secret black market websites around the world that sell stolen identities? >> 30-year-old american man, excellent credit rating. >> announcer: lifelock monitors thousands of these sites 24 hours a day. and if we discover any of our members' data for sale, lifelock is there with the most comprehensive identity theft protection available. [♪...] [squealing, crash] call 1-800-lifelock or go to lifelock.com today. you will

? if you are tired of washington's high taxes and big spending here is one way to stick it to the man >> tom: okay, you go first. i'll be right behind you. i have seen a lot of tax protestors and they do put them in prison when they don't pay their taxes. yes, people go to jail. i'll let you fight the battle first. thanks to everybody that contacted the show. keep your comments coming in. tom sullivan show, we're open for business 24/7. check out our facebook page, and then tom sullivan show. there is a lot of tom sullivan show, you can follow me on twitter at sullivan radio and all the things to contact us on the web my main webpage which is tomsullivan.com. thanks for joining us. make sure to tune in to the radio show. listen in through our fox news radio app. download it from itunes. you can hear us online by clicking live button on my main website. we or radio every day from 3:00 to 6:00 p.m. eastern time. we'll have another great show for you to fox business, but in the meantime, i hope to hear you on the radio. lou: good evening, everybody. thank you for joining us. the dow jone

. the cypriot government says the country's parliament is unlikely to pass legislation which would impose a tax on bank deposits. lawmakers are set to meet and vote on the levy which has been set on a condition of the eu bailout. meanwhi meanwhile, the german finance minister has rushed to the defense of a highly unpopular tax. the move was necessary to keep cyprus from sharing in the burden of a eu bailout. and uncertainty over the outcome of the vote in nicosia continues to weigh on markets. cyprus said its stock exchange will trading until thursday. cypriot banks have been placed on negative watch. carolin roth is reporting now for us. the latest we're hearing is that the vote may not happen today. what can you tell us? >> absolutely. there are a lot of moving parts still, kelly. this is a very fluid situation. the vote is scheduled to happen at 6:00 p.m. local time. there has been no official cancellation on part of the government. but, again, a government spokesperson at the same time also saying that it's very unlikely at this point that the vote will actually go through. that is, of cour

's so many obligations so many new taxes associated with it. it's incredibly expense simple. it was supposed to lower the cost. it has raised the cost of the premiums for average family, and in the neighborhood of $5,000. this is a disaster. and the real question is, will anybody have the honesty to own up to the fact this is a disaster and saying can we start over again and do this in a reasonable way and get the voices of people who actually know something about how to save money involved? everybody agrees that healthcare reform is necessary. but it needs to be done the right way. neil neil do you think it's too late for that? that this sort of medical ship has sailed and despite all the problems, i don't see the administration trying to draw it back. paul ryan wants to rescind the whole healthcare program and start fresh, but that's unlikely. so given that distinct possibility, what are we left with? >> well, i'm not as pessimistic as you are. i think there is just a slight chance that maybe some people who have pushed this thing forward, can stop for a moment and instead

as republicans. smaller government, lower taxes, less spending, rational regulation, open markets, free trade. these are the things that unite as as republicans. it is no surprise to me, lou, that if you take this 60 million people who voted republican for president last year, they're not going to all agree on everything in it would be silly to think that they would. but, there are things that generally unite us, and we need to learn how to work together and push hard for what we know is right. secondly, to understand and not everybody who is a good person or even a good republican is goin to agree with you on everything. heck, my wife doesn't agree with me and everything. lou: you put it that way. in my house i have to say, have to agree with her. republicans have lost to president ections, as you are keenly aware, governor. the vote totals declining over those two elections last year. the spending, astronomical. the republicans -- fighting many people are not aware, republicans actually out raised anoutspend the democratic party. presidt obama. over $1 billion. now, that is, by mimas, gover

because of that deposit tax component. now, the president is currently meeting with the leaders of the political parties. of course, what he's trying to do is to strong arm and to persuade them into voting for that deal because the other alternative, yes, that is bankruptcy for this country, which has only 1 million people and only makes up 0.2% of the entire eurozone. the debate and the vote on that bailout deal will be kicking off in around four hours from now at 4:00 p.m. local time. thou, a lot of uncertainty as to what the outcome of the vote will be, given that nobody has a clear majority. having said that, there is, of course, the chance that some of the lawmakers who have been wavering could have been appeased by the talk that some of the taxes for the smallest depositors could be lowered. now, "the wall street journal" has reported that those deposits between zero is and 100,000 euros could be taxed at only 3% as opposed to 6.75% previously. now, the middle bracket would be 100,000 to 500,000 euros. that could be taxed at 10% and then anything in excess of half a millio

-called vice taxes. you have probably heard the sequester cuts go after about $44 billion in this fiscal year. let me give you a sense of this. taxes on tobacco and alcohol and gaming, gambling, lotteries, generated together $75 billion compared tough sequester, that taxes are doing a very powerful job. that is, federal, state and and local revenue. two states, two states have legalized the recreational use of marijuana. they are colorado and washington . colorado collect more than $5 million in sales, $5 million in sales from dispensaries, pot dispensaries, marijuana. washington is reptedly collecting some $750,000 in taxes, although they have been having trouble getting dispsaries registered with the state. it is affecting their revenue. pot smokers procrastinating. hard to imagine. well, regarding that $13 billion pornography industry, 13 billion. california is earning about $36 million per year just in revenue from the porn industry. it's worth about a billion dollars overall to the economy, just in southern california. well we are on the subject of sex in addition to the so-called vice t

's good to refresh our memories on costly wars, big tax cuts, medicare part d. that was a six-hour vote and there were republicans chasing people around the walls of the house of representatives trying to get that last vote and of course, the crisis on wall street. by the way, as you know, they've regained all the money they lost on the principles of president obama. i know he has a heart of caring. we've got to restate this principle and you are right. it's our commitment. we're not letting go of medicare, medicaid and social security. medicaid is a premise of the affordable care act. >> even if it puts you at odds with the president? >> i'm an optimist and i truly believe the president has a real good heart and he's still willing to listen. we're against the changed cpi. but we're keeping the doors open. we want to hear what the president has to say and i always believe that he has an open mind and an open heart. but it's up to many of us. to keep the fight going. >> we are going to find out. no question about it. thanks for your time tonight. i appreciate it. >> thanks. >> and that i

, in the ryan budget takes the taxes and repealing obamacare. what is happening is the complete integrity of our financial system is being called into question. we have the fed printing day and night to provide the monetary support for these fiscal policies, and to hear republicans say, the speaker of the house say, this is not an immediate debt crisis. what the hell does one look like? >> neil: makes you examine, were they trying to say -- calm people down into thinking we're not going to followed like this hour or this day. but by saying not immediate, and agreeing with the president, they give him a negotiating edge. the president says this isn't really like a right-now threat. up to now they've been saying this is a right-now threat. >> i don't think boehner believes it is. i think he has been around a long time. the think he has participated in this for a long time. i don't think he would use this as a crisis, and it is a crisis. paul ryan was on my program over a year ago, and he said we have two years. well, that's over a year ago, so i guess we have about ten months, and i'm surprised at

, it results in unfair tax hikes on middle class americans and results in undue burden on middle class americans through the cuts envisioned. >> this republican budget once again makes an ideological, uncompromising approach to addressing that budget challenge. >> perhaps the best thing i can tell you about the republican budget is that here we go again. >> yesterday americans got their first look at this year's ryan republican budget. turns out it it looks like last year's ryan republican budget and it wasn't the only one. i wasn't the only one that said, gee-whiz, not again. >> sean: their fearless lead her -- their fearless leader demagogued so he they demagogued. why are you laughing? >> i'm laughing because these are what i'll call the jim jones democrats. these people are unbelievable with what they're talking about. let me throw a few facts on the table. the government accountability office that works for harry reid and obama, they say 125 billion dollars in estimated improper payments in the federal government? i've got another one of their reports, 510 billion dollars of dupli

crunched the numbers and under the democrats' plan they would race taxes by $1.5 trillion. they just raised taxes. why would anyone think this budget is a good idea. maybe somebody who does is the former chair of the president's council on american advisors. from the university offing should school of business. uses one of those washington calculators. how are you doing? >> great to see you. i thought you would describe the thank you note you were about to write to the president for cutting government at a faster rate since world war ii. >> 6 trillion in debt. you're using to giving your students quizes and tests, right? >> here we go. >> this is the hannity intellectual contest, and we'll see our good of a political spin artist you are. close friends with barack obama -- >> i'm shocked he wasn't elected pope. here's point number one. this week wore talking about the president talking about balancing the budget, and we'll listen to candidate obama. >> i know where this is going. >> what is important to recognize is that we've already cut $2.7 trillion out of the deficit. if the sequester st

with your 401(k)? well, over the weekend, european policymakers agreed to bail them out by imposing a tax on the savings accounts of people who live there. that's right. they're actually taking the bailout money directly from people's bank accounts. of course, that sent folks running to their atms to withdraw their money, sparking a panic. now there's concern the same thing will happen in other parts of europe. and even though wall street is hanging tough, could the cyprus crisis impact us down the line? tom foreman has a fancy show-and-tell to help break it all down for us. tom, thanks for joining us. i understand why cypriots are worried, but why should americans be? >> because this can rattle your wallet. >> really? >> look at this over here. i start with the rhetorical question. what do shreveport, louisiana, knoxville, tennessee, have in common? they have bigger economies than cyprus. it has over a million people. gdp of about 24 billion. but this place is in big trouble right now, because of the issue of debt. what they have is a massive debt. they're spending more than they have, s

are always trying to protect taxes or wealthy people? is that a problem out there with the rank-and-file voters? >> no, i mean -- i don't think so. i think that's obviously a misperception that's become a real perception by the public. but i think we have to talk about things in ways that people can relate to. i mean, if you're talking about taxes and taxing small businesses, you have to talk about the fact that if -- if -- if our small businessman has to pay more money to the government, then he's going to have less money to pay to his ememployers, and the ememployers will have less money to send kids to the school of their choice. i think it's a matter of talking about the debt differently. not just we are in imminent danger in a debt crisis in this country. but what does that mean to people? it means that our government is growing so fast and it's becoming so expensive that we're making payments to our credit cards that we can't afford, which means we have to keep -- we'll keep having this debate about needing more revenue to the government. well, that means less money in peo

meltdown. the parliament rejected an unprecedented tax on bank deposits. that was a key part of the eu bailout terms. the finance minister is in moscow today with mounting speculation that russia could step in with a safety plan to safeguard russian deposits in cyprus. steve sedgwick is in moscow where he caught up with the finance minister there an hour or so ago. steve? >> they turned to russians once again. there's a loan on the table from russians dating back from 2011 so it's not the exception to it the rule for the cypriots to turn to the russians. the russians themselves are indignant they weren't brought into talks. let's hear what he had to say earlier on about the state of the current talks. >> first meeting very constructive. very honest discussion. we underscored how difficult the situation is and we'll now continue our discussions to find a solution by which we hope we will get some support from russia. >> in terms of that support, are we talking about a change of terms for the current existing 2.5 billion euro loan and an extension of 5 billion loan in addition to that? >

and the latest deposit tax scheme. happy anniversary, apple dividend and it was a year ago when the tech giant announced its dividend in 17 years. will apple succumb to the bigger payout as it faces stiffer competition from samsung. lululemon doing the downward facing dog with the transparency with the iconic black yoga pants prompting the retailer to cut sales guidance and boeing clinches an order from ryanair. of course, we begin with the markets. the dow and the s&p 500 hoping to avoid their first three-day losing streak of the year. wall street will be paying close attention in about three hours from now. that country's parliament scheduled to vote on a proposed tax on bank deposits and the controversial measure appears set to go down in defeat. here in the u.s., policymakers begin a two-day meeting in which they're expected to hold current policy. this is one of the meetings where we will get a press conference and people will be hanging on every word and every use of every adjective coming out of the fed chairman's mouth. are you expecting anything? >> i think that, frankly, we are looki

country to get a bailout. very controversial because it includes a tax on bank accounts. over the weekend, nervous cypriots ran to the atms to with draw large sums. lawmakers holding a hearing today in the u.s. on the us airways/american merger. a senate judiciary committee looking into the impact the deal might have on competition. the ceos of both airlines will appear. many analysts don't expect ticket prizes to rise, because there isn't much overlap between usair and american. still airline mergers are often heated and messy. complaints about lost bags, screwed up reservations, delayed flights typically soar after two airlines combine their reservation systems. we'll continue to watch the big airline merger. >> always has the potential to be a hot mess. >> yeah. >> take a look live at the vatican. the pope now greeting the leaders from around the world. we'll tell you what he says in his next -- before his inaugural mass this morning. take you back live to rome coming up next. and then today marks ten years since the invasion of iraq. coming up john's powerful conversation with america

the socialist bernie sanders from vermont who is independent. the cpc wants a 49% federal income tax rate on top earners. they want half. and they don't want many deductions for those folks. also the congressional progressive caucus wants even more government spending. 2.5 trillion more, on, quote, job creation. another 2.2 trillion on things like science, energy, the environment and education. also the cpc does not want to cut entitlements. and, wants to give unemployed americans 99 weeks of cash compensation. nearly two years. the question is what does president obama think of the congressional progressive caucus? my opinion, he likes it i don't think the president believes that crew is fanatical because they want what he wants. by the way, the far left kooks do want to cut one thing, defense spending. they want to bring that back down to 2006 level. somewhere in iran is cheering. there comes a point when americans are going to have to decide what country, what kind of country they want. even taking half of what affluent americans earn, feds couldn't possibly afford what the far left wants to

. what's your plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. michigan's governor is not waiting any longer for a plan from the city government in a very dramatic move today he named the washington attorney kevin orosz to take over the city as emergency manager. the republican governor rick schneider is joining us with kevyn orr. thanks very much for joining us. >> great to be with you. >> thanks for inviting us. >> mr. orr, let me start with you. what are you going to do? you have about 18 months to try to get detroit's finances in order. >> wolf, the first thing is make an assessment if i can of enhancing city services to the citizens of detroit. i'm going to sit down with consultants and restructuring team that the governor has in place to try to prioritize what we need to do next based upo

trying to downplay the possibility of striking any kind of bipartisan deal on budgets cut taxes, and deficit reduction. >> it may be that the differences are just too white if their position is we cannot do any revenue or we can only do revenue if we get medicare or get social security or get medicaid. if that is the position and we are probably not going to be able to get a deal. lou: congressman paul ryan, the author of the republican budget calling the president'sur reach effort, if that's what it is, and fiscal wishes not terribly charming. the president also claiming dung that interview with abc that the white house did not order the controversial closure of white house tours. that is the statement that his own press secretary disputed just hours later. >> the secret service made the decision about its budget and to withdraw personnel from to worse . cancel the taurus. it is our job to cancel the taurus. they cannot cancel them. because this is not a tour of the secret service building but tour of the white house and grounds. we run the taurus and the invitations and proces

cuts over the next ten years. but then i get a little confused. he's going to cut taxes for everyone and get two tax brackets of 10 and 20%. and then medicare is going to become private subsidized health care plans for people under 55 and eliminates the federal program. if you're cutting taxes by that much, it sounds like, well, it sounds like you're cutting those other things dramatically, too. >> well, yeah, paul leaves it out in there. to me, this is a very good blueprint to go forward on. i also support tax cuts. i do think that ultimately, tax cuts do generate more revenue. i come from the jack kemp school of republican party which does believe in tax cuts. but, again, this is our plan on the table. president should come forward with his and we'll go forward from there. this is a divided government. the republican realizes that. we're going with what we feel is our best case. and it's really not challenging, but it's asking the president come forward with his. the fact that he's coming in tomorrow. we'll go over some of these issues with him. and it will be a good first step. >>

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almost $1 trillion in new tax revenue. closing loopholes on the big corporations, in many cases don't even pay taxes. republicans are already blasting the plan. they support congressman paul ryan's budget proposal which seeks to balance a budget without any new taxes, only spending cuts. it also calls for repealing president obama's healthcare overhaul, something that democrats say, well, frankly, it can't happen. mike emanuel with the news live on capitol hill tonight. it was the democrat's turn. what did they say. >> the white house put out a statement concrete plan boost the economy and reduce deficits. today the chairman of the senate budget committee made her pitch. >> our budget reflects the pro-growth, pro-middle class agenda that the american people went to the polls of in support of in the last election. and i believe it is is a strong and responsible vision for building a foundation for growth and restoring the promise of american opportunity. >> though senator murray and white house like it not clear how senate democrats up for re-election 2014 will feel about voting on a

acts which enforced a heavy tax and banned indians from collecting or selling salt. gandhi and dozens of supporters set out for the coast where they planned to make their own salt from sea water. by the time they got there gandhi's followers numbered in the tens of thousands. his campaign of nonviolence civil disobedience auto would soon spread across the subcontinent. after 17 years britain finally granted india its independence. gandhi took a giant step towards freedom 83 years ago today. and now you know the news for this tuesday, march the 12th, 2013. or wednesday march the 13th here because it's past midnight but don't worry about it. when you get up tomorrow, it will be wednesday. unless -- i'm shepard smith. we will see you back here tomorrow or later today as we continue to watch for a new pope. our coverage begins at 4:30 in the morning eastern time. i dare you to get up with us. until then, good night. >> bill: the o'reilly factor is on. tonight. >> medicare and medicaid. >> bill: that is not a specific program. alan colmes back tonight and we will present some very specific

.6 trillion. the government is expected to take in 2.7 trillion in taxes. so, let's do the math here. leaving a deficit this year alone of $900 billion which will then be added to the nearly $17 trillion debt. democratic party doesn't seem to care. and liberal americans are putting all of us in danger by their inflexibility on the spending issue. republican senator tom coal berne indicates the senators could save almost 300 billion bucks a year simply by cutting out waste in duplicate programs. let's get very specific for you doubters out there. very specific. please consider these facts. am i being nice? the national institutes of health recently awarded $1.5 million to a boston hospital. to study why many lesbians are overweight and most gay men are not. the feds calling this a silg can't -- significant public health issue. are you kidding me? why am i paying for that? let the overweight lesbians go to weight watchers if they want to like everybody else. here is another one, nasa will spend close to $1 million. researching a quote, mars menu. recipes for food that could some day be served o

have bank accounts would be taxed one time on their deposits. so if someone has an account with $129,000 or less, they would have to fork over almost $9,000. that's a 6.7% tax. people who live there as you can imagine, they're really nervous about this tax. over the weekend, many rushed to withdraw their money out of the bank. this is what's unnerving the markets right now. about 15 minutes before the opening bell. >> al wlis siclisoison kosik li york stock exchange. >>> the heat tied a leg record for the second most con secreta consecutive wins. they will try to extend the streak in boston tonight when the celtics have their own run going, 11 straight home wins. >>> another miami basketball team is also on a roll, though. the university of miami hurricanes beat north carolina to become atlantic coast conference champs and advance to the ncaa tournament. 67 other teamses are in the big dance which tips off tomorrow. that means it's time to fill out those brackets. carlos diaz is checking a huge one here in the cnn center. wow, carlos. ♪ ♪ indiana, indiana, we're all for you, we w

to extend the bush tax cuts. four words stick out. campaign, and sell the public. when i hear that, i don't hear journalism, i hear infomercial. >> bill: professor, that is fact that he put out. that shows there is powerful national media advancing the cause of one political party. i think the founding fathers would be zun that had that is happening? >> i think the founding fathers would be disappointed because they wanted an i7bd press to be a watchdog. it has happened when the white house has invited reporters to visit and talk and they call them sympathetic reporters. so i don't think that is unusual but there is a blurring of that objectivity line. we don't see that standard in journalism because a lot of journalists are into advocacy and they are perfectly fine for that. >> bill: if you are commentator, you are allowed if your entire news organization you are not. it's could a lot lewd go with the democratic party in colorado and most powerful paper in the state. you see what happens. good legislation is getting knocked down. folks aren't getting to vote on it. >> bill: thank you. ge

progressives extending the bush tax cuts. four words, campaign and sell the public. when i hear that, i don't hear-- i hear sham wow guy and i hear-- >> that shows a powerful national media advancing the cause of one political party. and i mean, i think the founding fathers would be stunned that that's happening. >> i think the founding fathers would be disappointed because they wanted an independent press to be a watch dog of the powers that be. it's happened many times over the years the white house invited the reporters, to come in and talk and the white house calls sympathetic reporters at press conferences and what not. i don't think it's unusual, but i think there is a blurring of that be objectivity line that we don't see that standard in journalism laboring like we used to. a lot of them are into advocacy journalism and they're perfectly fine with that. >> bill: if you're a commentary you're allowed and if you're not-- and the democrat post colluding in colorado and you see he what happens. good legislations get knocked down and folks don't get to vote on it. and gentlemen, thank yo

indicating maybe the consumer is not feeling the pinch of higher taxes. meantime, coach popping pre-market on an upgrade from city. as a new report shows that it has been outspending apple in advertising to clench the market share gains it has seen. >> one step closer to getting the 787 back in the skies. the nefaa, a step to ending the two-month long grounding. >> we begin with the markets, by the skin of its teeth, the dow extending the winning streak and posting a record high close for the sixth consecutive day and the s&p closed higher despite hitting fresh five-year highs during yesterday's session. >> the bright spots here is what we saw managed to close higher yesterday were cyclical areas, semiconductors, energy and we had health care participating in that rally and bristol-myers. 11-year highs on that one. >> they screwed up badly and they bought a drug, not unlike glaxo they had, and it was red wine derivative drug and they fell. i will point out that the macarena is central to the thinking. >> really? >> because i went back and looked at this period november 1996 and was

exec growth. there's no tax increase in the world that will solve our long term dead -- debt problem. i'll tell you the criticism of the left. number one, he drank two much water. number two he didn't offer any new ideas and there's the fallacy of this. we don't need a new idea. there is an idea. the idea called america and it still works. [applause] >> i was told i got ten measly minutes. [laughter] >> but just in case i brought 13 hours worth of information. [laughter] >> the filibuster was about drones and also about much more. do we have a bill of rights? do we have a constitution? and will we defend it? [applause] >> within a few days, the president signed an extra $250 million to send to egypt. [booing] >> you know the country where mobs attacked our embassy, burned our flag, and chanted "death to america," he found an extra $250 million to reward them. i say, not one penny more to countries that are burning our flag. >> the g.o.p. of old has grown stale and moss-covered. [applause] >> i don't think we need to name any names, do we? applause. >> our party is enculpberred by an inc

is running a lavish white house. spending an incredible amount of tax money on himself. is that true? factor is coming right back. [ male announcer ] every day, thousands of people are choosing advil® for their headaches. my name is sunshine and i have three beautiful girls. i like taking advil® for a headache. it nips it in the bud. and i can be that mommy that i want to be. ♪ [ male announcer ] take action. take advil®. ♪ vo: to the elegant trim es in each and every piece, bold will make your reality a dream. earning loads of points. we'll leave that there. you got a weather balloon, with points? yes i did. [ man ] points i could use for just about anything. go. ♪ keep on going in this direction. take this bridge over here. there it i [ man ] so i used mineo get a whole new perspective. [ laughter ] [ male announcer ] earn points with the citi thankyou card and redeem them for just about anything. visit citi.com/thankyoucards to apply. and redeem them for just about anything. ♪ your finances can't manage themselves, but that doesn't mean they won't try. bring all your finances t

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. in 1950 the population of detroit, 1.8 million and today 700,000 which means that tax revenues have plummeted. so if raising taxes is not the answer then of course you have to lower spending and today the mayor said that everyone is going to have to give a little. listen. >> bottom line here is that we must stop fighting each other. we must start to work together and so, i'm happy that now i've got teammates. i've got partners that can help me do some of the things that need to be done in our city. >> reporter: of course, if they can't work it out, detroit would likely have to file for bankruptcy, which that would be the largest u.s. city ever to do so, harris. >> harris: you know, part of what we've watched in that city is their own internal politics and workings keeping them from going forward, in some cases. the city council, i understand is not exactly embracing this plan to go forward. >> no, and the city council had threatened to sue and late today decided against that, but the city council president still called the mayor a quitter for agreeing to this plan. i mean, you thin

. you see, a vast majority of these couples are getting divorced so they can avoid a new chinese tax. beijing recently decided to impose a 20% capital gains fee on sales of second homes. so, the theory goes, if you have two homes and you get divorced, you can register each home under separate names. then, if you sell one of those homes, you escape the new tax and then, i guess, you can get remared. the bizarre exploitation of this loophole tells a larger story. at an individual level, it shows the importance of housing as an investment in china. but at the macro level, the story shows how beijing's new leaders are are struggling is to deal with what some are calling a property bubble. on the one hand, prices are soaring in the big cities. in shanghai, for example, developers say property prices have risen 40% in one year. this is because demand has stayed well ahead of supply, as more and more people migrate to big cities. on the other hand, second and third-tier towns have a different problem. here, supply exceeds demand. too many houses. look at these pictures of ghost towns in chi

concerned about the eu bailout and the cyprus rejection of the eu mandated tax on the small depositors. news that the housing sector is stronger than expected helping to overcome some of the markets and today. the dow up about four points. the s&p fell to the sameumber, the nasdaq down almost nine. big board volume today picking up. gold moving higher, up 670, closing at 161130. crude oil dropping a dollar 58 to 9216 per barrel. the bond market and interest rates falling. the ten year treasury just under 2%. federal reserve policymakers beginning their 2-day meeting. my next guest said the fed will has been substantial, don't expect changes anytime soon. that should be music to the ears of most investors. joing us, former federal reserve vice chair princeton economist alan blinder and the author of the book after the music stops. great to have you with us. >> nice to be here. lou: let's start with cypress. this little place, million folks. they're creating quite a mess. $400 billion lt of global markets yesterday. we should blame -- >> multiple of the gdp. i actually think of like what is us

costs down. what's your plan? ishares. low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. squa championship game rapped up. winning the acc for the first time this school history, but still wasn't enough to earn them a one seed in the big dance. miami is a two seed in the east region. louisville number one overall. the other one seeds are kansas, indiana and gonzaga. last year's number one overall seed, kentucky, they failed to make the tournament this year. st. louis wrapped up the atlantic 10 title yesterday taking care of bcu. after the game they tried to get right to the airport so they could watch the selection show, but they got stuck in traffic in new jersey, so the entire team stopped off at a local best buy and set up their own watch party. shoppers joined them as they learned they would be the four

instruments unlike apple and unlike microsoft they actually repatriate and pay the tax on their overseas earnings. >> and you like to see them do that? >> if they actually believed there would be a change and there would be a territorial tax system then leave it there for the time being and if there isn't, they should pay the tax and bring them back. >> for anyone who missed it. you did have a position in apple and you sold out of it last fall. >> no, we cut the position. we are now overweight apple and we completed the position just a couple of days ago. in fact, an interesting thing on an willel, the apple 2015 leaps for the 500s trade around 40 bucks. if apple goes back to where it was six months ago that is four to five times your money. >> bill, thank you so much for joining us and brian, thank you. >> they dragged me in. >> make sure you join us on monday. "squawk on the street" begins right now. ♪ ♪ ♪ >>> the big question, will today be the day? the s&p 500 surpasses its all-time closing high or should the bears beware the ides of march. i'm melissa lee with carl quintanilla

is it that allowed or condoned or suggested the idea that the lower threshold of 100,000 euros should be taxed? >> listen to the statement out of the european commission. one of the myriad of bureaucrats in brussels. the commission made it clear in the euro group meeting before and they capitalized before, the vote in the cypriot government that an alternative solution would be acceptable and preferably one without a levy on deposits below 100,000. the cypriots did not accept such an alternative scenario and they squarely placed the blame on the guys in the parliament building behind me. so we'll see what happens. the breaking point is at some point we're not going to keep stuffing the atms with money. and they'll have to figure it out and close down some banks, et cetera. >> i respect the detail that you've been through, but this market clearly believes that the deal will get done and the banks will get propped up with international aid. we're up 72 points on the dow. nobody in the market appears to be worried about it and we haven't seen a big move on bonds today. how do you reconcile that w

with $129,000, you would have been taxed $8,700, gone. taken right out of your account just like that. the people in cyprus protested and rushed to withdraw their money. look at the protest lines at the banks. any bailout needs to come with strings attached and the russians, guess what? why are the russians not happy about this tax? because about $30 billion, a third of money in cyprus belongs to russian people. russians park their money there because the taxes are so much lower. this would be a tax on russian money, too. for now the banks remain closed until thursday. the cyprus stock exchange remains closed. the uk is flying one million euros in cash to cyprus for british soldiers who might run short of money. this is a really interesting situation to watch here in cyprus. >> imagine your bank being closed. >> yeah. you have no access for three days. >> it's a reminder of how fragile and interconnected some of the pieces are in the european story. we're watching a recession deepen in europe. >> also when you think you have awe tax haven. >> that's right. >> christine, thank you. >>>

with their money, haven't the kochs won election? we are not talking poverty or jobs. we are talking about tax cuts and tax policy and debt. that's where they want to be. >> i don't know if i would give them that much credit for the change in the debate. i would date that back to 1980 when ronald reagan came to the floor. the money is like jet fuel. on the other hand, they are having fist fights outside the cockpit over who should be flying the plane and they don't know where they want to go necessarily. i don't know if we should be prepared to acknowledge that there will be a total takeover. you worked at newspapers and i worked at newspapers. you can work at a newspaper and change the editorial page. it is hard to herd the rest of the cats. the reporters out to serve an audience expecting traffic and weather and news and really what happened at city hall. i would say it is probably too early to panic. rupert murdoch once owned "the village voice." >> right. a lot of people are giving a sideout to "the wall street journal." >> the guy's a wealthy developer in san diego and bought "the tribune." he

to catch the bus to come over here. >> do you feel like your taxes are going up. >> that's not my call, not my call. >> you open up the wallet. >> yes, exactly. >> do you think that the president cares about the massive amount of debt we're in right now. >> so many stuff we're paying for and not seeing what's going on today. >> i don't think that he cares about anything, but golf right now. >> any advice for the guys in washington? >> i don't know. >> we're not talking about him. >> he at the end of the day the guys have to come together and make it happen. >> if you guys are working the ball close to the ball field and the balls just fly into your handsions in a while. >> and we want a real ball! >> you guys have a game tomorrow? >> oh, yeah, we have a game every day, seven days a week, unlike you. >> where do they find this guy? >> do you ever see o'reilly throw the baseball? >> i think so. >> got a good angle, a tall guy. >> what about the president, you ever see him throw out the first pitch? >> just a bit outside. >> president bush could. >> it's like you're having a blast down th

and asking why are your tax dollars going to such a radical country? log on to the website, we always want to hear from you, at hannity lilive.foxnews.com ad why am i sitening this chair, who hired me? and what about his background saw something in me didn't know existed. all that straight ahead. you're crazy. go faster! go faster! go faster! go faster! no! stop...stop... go(mom) i rais my son to bester! careful... hi, sweetie. hi, mom. (mom) but just to be safe... i got a subaru. (announcer) love. it's what makes a subaru a subaru. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. with the bing it on challenge to show google users what they've been missing on bing. let's bing it on. [fight bell: ding, ding] how many here are google users? what if i was to tell you that you would actuall

of the depositors savings accounts. although the parliament rejected the so-called bank deposit tax this afternoon, uncertainty how the country will fund its bailout remanges. now, all of this put the financial markets on edge for the day and as you heard, it's raising many concerns that such radical measures could one day be taken in america. is that possible? joining me now with reaction from the fox business network, stuart varney and co-host of "the five" dana perino. you say it better than i do. >> my name? his name, stuart varney. >> sean: and saying that there's a debt crisis. >> i don't agree with either one of them. >> the lesson from cyprus is simple. there are two lessons. all governments should get a grip on its debt. america is not getting a grip on its debt, it should. don't ever threaten to take the private bank accounts of ordinary citizens, because if you do, you will have a revolt. those are two lessons. >> sean: all hell would break loose, i mean, it would be ugly. the streets, people violence, agree? >> yes, i do, except for i think it's a little like calling in the black helic

of people worry at night. believe me, they're not sitting there saying, geez, let's have more tax breaks for the wealthy and more loopholes to corporates. >> that's where your party stands. >> we have fought that battle and it's a mistake. we've got to get back to talking to middle income people about how they can reach the american dream. that's why we lost pennsylvania and ohio, wisconsin, michigan. we've got to get back to having people feel like we understand their lives. we're not about just tax breaks for the wealthy. >> do you think -- i like your values here, by the way. i'd like to see your party really compete. democratic party offers pell grants, opportunities for working class kids to go to college, social security for people over 65 so they can avoid being below the poverty line. what has your party put up in that bidding war? what do you offer for those regular people? >> not enough. i'll give you way of example. we like to say that we're the pro life party. we're really not. we're the pro birth party. >> it's in your platform. >> we fight for the unborn. >> john, it's righ

? >> compound tax free offshore, then eventually return. >> you want to see how much they own in real estate, in goal, in forex? >> right. we're going to talk about -- exactly. bridge water -- oh, how is apple doing? >> the analyst out of btig is on the 11:00 hour this morning with us. to his credit he cut the stock when it was $634 last april. missed some of the up side but missed a lot of the downside. he does point out they're probably going to miss. guidance is probably going to miss. management doesn't know what to do with this money. there's products we don't know if they're in the pipeline or if management will even pursue them but he's giving them a huge benefit of the doubt. >> i thought this was one of the most brilliant upgrade i've ever seen. it starts off by basically saying this company is going to blow it. that's why i like it. the reason why i say it is important, this stock has become very psychological. he's basically saying -- he's been at the top before. we know in another bull market he was in there at the top. >> yes, he has the advantage of experience. >> he's saying i

street shrugging off a botched european union bailout of banks and an unprecedented tax on the deposits in cyprus, a tiny nation of 1.1 million people that will cost investors hundreds of billions of dollars in market capitalization. the dow jones industrial average down more than 100 points earlier but rebounded losing a modest 62 points. the s&p fell nine, the nasdaq down 11 and a half. the market off of the lows of the day. officials revising the imprudent and unreasonable plan to seize money from bank depositors to pay for the eu bailout. much damage has been done and some investors are so shaken, they will take their money out of the banks at their first opportunity, which is now thursday morning. international monetary fund and central bank are embarrassed, which doesn't solve the insolvency problem. negotiators around 150 nations from new york city trying to negotiate a binding treaty that would end unregulated arms sales. the arms trade treaty president obama now says he supports. thnational rifle association promises to strongly oppose that treaty saying it will lead to nationa

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